By default, the watermark is applied to all pages in the newly created document. If you want to exclude the watermark from being applied to the beginning of the document, you can set a DWORD value in the registry named "PDFExcludeWatermarkPre" to the number of pages to exclude. If you want to exclude the watermark from being applied to the end of the document, you can set a DWORD value in the registry named "PDFExcludeWatermarkPost" to the number of pages to exclude.

The registry value is deleted after each document is created unless the "persistent" registry value is set.